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The Insurance Industry in Iceland, Key Trends and Opportunities to 2016

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The Insurance Industry in Iceland, Key Trends and Opportunitiesto 2016Report Details:Published:December 2012No. of Pages: 113Price: Single User License – US$1950SynopsisThe report provides in-depth industry analysis, information and insights of the insurance industry inIceland, including:•The Icelandic insurance industry’s growth prospects by insurance segment and sub-segment•The competitive landscape in the Icelandic insurance industry•The current trends and drivers of the Icelandic insurance industry•The challenges facing the Icelandic insurance industry•The regulatory framework of the Icelandic insurance industryExecutive summaryThe size and importance of the Icelandic economy is relatively small in the Nordic region.However, the country came into prominence during the 2008 financial crisis after its three majorcommercial banks collapsed and had to be refinanced by the government. This had seriousconsequences for the Icelandic economy with the per capita disposable income and nationalcurrency decelerating sharply. In addition, the market capitalization of the Icelandic Stock Market(ICEXI) declined by over 90% during the financial crisis. However, these events did not have anysignificant impact on the country’s insurance industry. The prime reason for this was that theIcelandic insurance industry is dominated by the non-life insurance segment, which accounted for87.4% of the overall insurance industry’s written premium in 2011. The growth in non-lifeinsurance is driven by the favorable regulatory framework.ScopeThis report provides a comprehensive analysis of the insurance industry in Iceland:•It provides historical values for the Icelandic insurance industry for the report’s 2007–2011 review period and forecast figures for the 2011–2016 forecast period•It offers a detailed analysis of the key segments and sub-segments in the Icelandic insurance industry, along with forecasts until 2016•It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions•It profiles the top insurance companies in Iceland, and outlines the key regulations affecting them

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Key highlights•The size and importance of the Icelandic economy is relatively small in the Nordic region.•However, the country came into prominence during the 2008 financial crisis after its three major commercial banks collapsed and had to be refinanced by the government.•This had serious consequences for the Icelandic economy with the per capita disposable income and national currency decelerating sharply.•In addition, the market capitalization of the Icelandic Stock Market (ICEXI) declined by over 90% during the financial crisis.•However, these events did not have any significant impact on the country’s insurance industry.•The prime reason for this was that the Icelandic insurance industry is dominated by the non-life insurance segment, which accounted for 87.4% of the overall insurance industry’s written premium in 2011.•The growth in non-life insurance is driven by the favorable regulatory frameworkReasons to buy•Make strategic business decisions using in-depth historic and forecast industry data related in the Icelandic insurance industry and each segment within it•Understand the demand-side dynamics, key trends and growth opportunities within the Icelandic insurance industry•Assess the competitive dynamics in the Icelandic insurance industry•Identify the growth opportunities and market dynamics within key segments•Gain insights into key regulations governing the Icelandic insurance industry and its impact on companies and the industrys futureGet your copy of this report @http://www.reportsnreports.com/reports/211255-the-insurance-industry-in-iceland-key-trends-and-opportunities-to-2016.htmlMajor points covered in Table of Contents of this report includeTable of Contents1 Executive Summary2 Introduction2.1 What is this Report About?2.2 Definitions2.3 Methodology3 Icelandic Insurance Industry Overview3.1 Industry Overview3.2 Icelandic Insurance Industry – Market Size, 2007–20163.3 Key Industry Trends and Drivers3.4 Challenges3.5 Regulation4 Market Segmentation4.1 Life Insurance Growth Prospects